Multinationals with state shareholders

Enel, an Italian utilities firm, holds more foreign assets than any other transnational company in which the state has a significant stake, according to the UN Conference on Trade and Development. It has $157 billion of assets abroad, 68% of its total holdings. Of the ten biggest such companies ranked by foreign assets, only France's EDF has less than half its total assets abroad. Seven of the 30 biggest companies are under complete government ownership. In contrast, the Brazilian state owns only 6% of Vale, a mining company. Volkswagen recorded the largest foreign sales in 2009 ($105 billion), and another German company, Deutsche Post, a logistics outfit, employs the most people abroad (258,000).